Gold Movement
For the 24 hours to 23:00 GMT, Gold declined 0.72% against the USD and closed at USD1227.30 per ounce, amid broad gains in the greenback.
In the Asian session, at GMT0400, the pair is trading at 1226.40, with the gold trading 0.07% lower against the USD from yesterday’s close.
The pair is expected to find support at 1221.97, and a fall through could take it to the next support level of 1217.53. The pair is expected to find its first resistance at 1233.07, and a rise through could take it to the next resistance level of 1239.73.
The yellow metal is showing convergence with its 20 Hr moving average and trading below its 50 Hr moving average.
